BAKU, Azerbaijan, October 14. Azerbaijan's gross domestic product increased from $7.3 billion to $78.7 billion over the past 20 years, Head of the Presidential Administration of the Republic of Azerbaijan Samir Nuriyev said, Trend reports.
Nuriyev made the remark at a conference organized by the Cabinet of Ministers of the Republic of Azerbaijan, dedicated to "20 years of unequaled service to the Motherland, people and statehood" topic.
He noted that in the reporting period, state budget expenditures increased from 1.2 billion manat ($710 million) to 36.6 billion manat ($21.5 billion).
"Strategic foreign exchange reserves grew from $1.4 billion in 2003 to $66.1 billion as of October 1, 2023. The total volume of investments in the country's economy from 2003 through 2022 amounted to $310.4 billion. Compared to 2003, the poverty level in 2022 decreased from 44.7 percent to 5.5 percent, and the average monthly wage increased from 77.4 manat ($45.5) to 839.4 manat ($493.7)," added the official.
A conference organized by the Cabinet of Ministers of the Republic of Azerbaijan, dedicated to "20 years of unequaled service to the Motherland, people and statehood" topic, is taking place in Baku today under the co-chairmanship of Azerbaijani Prime Minister Ali Asadov and Head of the Presidential Administration of the Republic of Azerbaijan Samir Nuriyev.
The conference is dedicated to the activities of President of the Republic of Azerbaijan Ilham Aliyev.